Los Angeles daily herald., 1887-08-04
THURSDAY, AUGUST 4, 1887.
silver md Gold.

silver and Gold.
The two great precious metals pro
duced by the hand of American indus
try have been adopted as circulating
medium, and in those metals, labor,
the source Of prosperity of the Amerl-
can people, has invested for safe keep
ing the produce Of its toll. In these
labor continually confides, and accepts
either gold or silver as an exchange
for its capital, which is really inestl-
mable and indispensable in the lie OF
this or any other nation. These two
metals perform one and the same
work. They are used in the exchange
of relative values over all the world.
The laborer has implicit trust in disk
of silver or gold of known weight and
fineness guaranteed by the government
and nothing should be done to destroy
this trust reposed by the sons OF toll.
Any legislation to give one metal SUI
periority over the other disturbs the
whole industrial fabric of the people
and leads to unrest and public dis
qnietude. As soon as favoritism is
sh own to the capitalist as against the
laborer the seeds of anarchy are sown
and will bear large and perennial
crop. When the rich mans gold is
legislated to be worth more than the
1aborer's silver, dollar for dollar,
there will arise disquietude in the
breasts of the people that cannot be
appeased except by restoration OF
equivalent valnes. The experiment
of debasing silver was tried i'll this
country fourteen years ago, and the
consequence was money panic
that shook the whole CONNER
eial world. Since the re-
monetization of silver no money
panic has appeared among the Amer
lean people. All the silver and gold
Of the world are needed for purposes
ef trade or in the mechanic arts;
There is no surplus of either. The
demand for silver to be shipped
abroad is constant and strong. No
other nation has such improved facil-
tiles for producing silver as the United
States, or can produce SO much. The
silver crop is always sure and always
In demand and does not impoverish
the soil. The free coinage of silver
yould increase the value OF silver
bullion about twenty per cent. and in
crease the profit of silver producers
accordingly. In addition to
the profit of the present
miners, such an increase in the
value of silver bullion would cause the
opening and working of hundreds of
silver mines in South California that
are now undeveloped on account of
the present system Of the coinage Of
silver. These mines are of low-grade
ore of vast extent, the most reliable OF
al silver mines, but cannot be worked
1t . discount of twenty per cent on the
bullion produced. .Inyo county is
streaked with low-grade silver ore all
through her hills and mountains ;
Fresno, Kern and San Bernardino
counties are opulent in low-grade silver
ore that would pour forth a steady
stream of wealth, if silver, like gold,
could have free coinage. Intelligent
prospecton and mine owners declare
from their own knowledge that in the
wocounties Of Inyo and San Bernardo
NO hundred low-grade silver mines
could be opened and made profitable,
giving employment to thousands of
lxborers if silver bullion were coined
free. Senator Sherman Of Ohio was
one of the leading conspirators that
secured the demonetization of silver,
the peoples money, in which nine
fcnths Of the commercial business of
the world is transacted. 1t is idle, it
is con trary to the business interests OF
man kind, to declare one OF these
metals superior to the other as legal
tender. There can never by any
operation Of natural law. be such a
condition rs two prices-a price for
goods in gold and a different price foi
goods in silver. One price is the sure
result Of the use of the two metals as
lcRsl tender, and one price is
the only basis Of trade accep'
table to the people. These
metals are not two independent
units, but are mutually dependent in
the formation Of II prices and in the
exclaange Of all commodities. A deg
r~dstion of the character OF silveI
would depress the price Of labor anc
m the products of labor. Prices fol
xruturies have been established by the
uopcurrsnt use Of the two metals
1hrouehout the commercial world
adld cannot be used rs the sole stand
~ Il value. There is not, and il
.nuves litsly 40 be, sufficient gold in
- xoild ~ b. used as currency.
11f = r. ncnrotod value among ma